Report
R.J. Hottovy
EUR 101.80 For Business Accounts Only

Amazon is finding new sources of long-term cash flow beyond AWS, Prime, and third-party sales.

Our key takeaway from wide-moat Amazon's fourth-quarter update wasn't so much that the core building blocks of our longer-margin cash flow assumptions are intact, but that new sources are also becoming contributors sooner than anticipated. The pillars that we've highlighted in the past all contributed to fourth-quarter results, including AWS (where revenue growth reaccelerated to 45% from 42% last quarter), Prime memberships (according to management, more new paid members joined Prime in 2017 th...
Provider
Morningstar
Morningstar

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.

Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.

We have operations in 27 countries.

Analysts
R.J. Hottovy

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